ASEAN, Hong Kong work on trade pact

Hong Kong and ASEAN have agreed to pursue a bilateral free trade agreement, the city’s Secretary for Commerce and Economic Development, Gregory So Kam-leung, announced in Beijing on April 26.

He told reporters in Beijing that the free trade agreement “will enhance trade and investment flows between ASEAN and Hong Kong, generate new opportunities for businesses, and boost economic growth in the longer term.”

The two sides are now discussing the preparatory work for formal negotiations. The agreement is expected to cover elimination and/or reduction of tariffs and non-tariff barriers, preferential rules of origin, liberalisation of trade in services. liberalisation, promotion and protection of investment, as well as a dispute settlement mechanism, according to the People’s Daily.

Hong Kong and ASEAN have agreed to pursue a bilateral free trade agreement, the city’s Secretary for Commerce and Economic Development, Gregory So Kam-leung, announced in Beijing on April 26.

He told reporters in Beijing that the free trade agreement “will enhance trade and investment flows between ASEAN and Hong Kong, generate new opportunities for businesses, and boost economic growth in the longer term.”

The two sides are now discussing the preparatory work for formal negotiations. The agreement is expected to cover elimination and/or reduction of tariffs and non-tariff barriers, preferential rules of origin, liberalisation of trade in services. liberalisation, promotion and protection of investment, as well as a dispute settlement mechanism, according to the People’s Daily.